UAE firms can now estimate ICV scores before certification

Dubai: UAE businesses can now obtain an early estimate of their In-Country Value (ICV) score before undergoing the official certification process, potentially giving them time to enhance their performance in tenders, according to ADEPTS Chartered Accountants. The organization has developed a free online ICV Score Calculator that assesses six key factors, including local spending, investment, Emiratisation, and employee costs.

An ICV score, a percentage representing a company's contribution to the UAE economy, plays a crucial role in government and semi-government contract evaluations.

Traditionally, ICV has been viewed as a once-a-year certificate, but this tool allows leadership teams to monitor and manage it continuously, said Aaliyan Ibrahim, founder and managing partner of ADEPTS. By providing an early estimate, businesses can identify areas for improvement and make informed decisions before starting the formal certification process. The calculator follows the National ICV framework and calculates the score based on six broad areas, with different weighting for manufacturers and service providers.

Businesses input their financial and workforce data into the calculator, receiving an estimated score along with a detailed breakdown of the contribution of each component. While the calculator offers an estimate for planning purposes and should not replace official ICV certification, it serves as an early-warning mechanism to help businesses assess the potential impact of their decisions on their ICV performance.